Most of the issue arises over the 2007 purchase by the Kushner
Companies of 666 Fifth Avenue, a massive skyscraper in New York
City. The $1.8 billion price tag for the building was paid for
with a $50 million down payment, $535 million in short-term high
interest loans, and a $1.2 billion mortgage.

Due to the dramatic downturn in the New York real estate market
(not to mention the global economy) soon after the purchase, the
Kushner Companies has been working to pay down the high interest
loans by selling off portions of the building and large parts of
its other portfolio, while not putting any money toward the
long-term mortgage.

According to Bloomberg, the Kushners have sold off all of the
retail space at the bottom of the building and a 49.5% stake in
the tower above to Vornado Realty Trust. The sales have helped
pay off the short-term loans and split the ownership of the
tower, but the Kushners still must pay roughly $600 million -
more than the short-term loans the company has grappled with for
a decade - when the mortgage comes due in February 2019.

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While the loan is substantial in size, the success or failure of
the 666 building is not a threat to the survival of the larger
company, a person familar with the matter told Business Insider.
In addition, the rest of the Kushner Companies' portfolio is
performing well, the person said.

In order to pay back this substantial obligation, according to
Bloomberg, the Kushner Companies has developed an ambitious plan
to tear down the existing 666 tower and replace it with a new
mixed-use skyscraper with a five-story mall and high-end condos.

To finance the existing loan and the new complex, the Kushners
have been looking to partner with outside investors on some or
all of the space.
According to Bloomberg, a good number of the conversations
the Kushner Companies representatives have held since Trump
entered the presidential race in 2015 have been with foreign
investors.

So far, however, no partner has been willing to sign on to the
plan.

Here's a rundown of some of the investors the Kushner Companies
held meetings with regarding the building over the past few
years, according to Bloomberg:

Sheikh Hamad bin Jassim Al Thani, a Qatari businessman, who
agreed to an investment if others came on board in 2016. The deal
eventually fell apart.
The Korea Investment Corporation, a sovereign wealth fund run
by the South Korean government, held talks regarding the
investment but ultimately walked away.
Anbang, a massive Chinese insurance company with close ties
to the Chinese government, held talks but backed out in 2017
after reports of the talks were revealed.

All of these investors, said Bloomberg, have either not commented
or denied that they took interest due to Kushner's connection to
Trump.

The Kushner Companies did, however,
get into hot water in May when it was reported that some of
the family members were apparently encouraging Chinese investors
to go in on a separate real estate venture in exchange for US
visas, using Jared's name as a selling point.

As late as July, reports indicated that some companies
working with the Kushner Companies were still using Jared's name
to entice Chinese investors.

In a statement to Business Insider, a spokesperson for the
Kushner Companies took issue with the Bloomberg story.

"The Bloomberg article this morning about the Kushner Companies
and its property at 666 Fifth Avenue contained many factual
errors and drew unsupported conclusions," the statement said,
without elaborating on what those factual errors were.